How long does negative information remain on my credit report? | Consumer Financial Protection Bureau (2024)

FAQs

How long does negative information remain on my credit report? | Consumer Financial Protection Bureau? ›

​​Accurate positive information can remain on your credit report forever but commonly is removed after seven years. Accurate negative information can remain on your credit report for only seven years, with a couple of exceptions.

A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in full. Consumer no longer have to get the judgment rescinded in court.

In most cases, a consumer reporting agency may not report negative information that is more than seven years old or bankruptcies that are more than 10 years old.

Highlights: Most negative information generally stays on credit reports for 7 years. Bankruptcy stays on your Equifax credit report for 7 to 10 years, depending on the bankruptcy type. Closed accounts paid as agreed stay on your Equifax credit report for up to 10 years.

Under the provisions of the Fair Credit Reporting Act, adverse information—for example, collection actions, charge-offs, suits, and judgments—may remain on your credit report for seven years.

A credit reporting company generally can report most negative information for seven years. Information about a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Bankruptcies can stay on your report for up to ten years.

Nationwide consumer reporting companies

There are three big nationwide providers of consumer reports: Equifax, TransUnion, and Experian. Their reports contain information about your payment history, how much credit you have and use, and other inquiries and information.

Consumer reporting agencies are required by law to remove most negative information about your account after seven years, which generally means that if you find an item in their report that is older than seven years you should dispute that information.

How long do closed accounts stay on your credit report? Negative information typically falls off your credit report 7 years after the original date of delinquency, whereas closed accounts in good standing usually fall off your account after 10 years.

In most cases, the 25-month retention period for applications runs from the date a notification is sent to the applicant granting or denying the credit requested. In certain transactions, a creditor is not obligated to provide a notice of the action taken.

How long before a debt becomes uncollectible? ›

Credit card debt doesn't go away, but the consequences of credit card debt can only last for seven years. After this time has passed, credit bureaus may be able to give you a fresh start and delete the debt from your report.

The debt will likely fall off of your credit report after seven years. In some states, the statute of limitations could last longer, so make a note of the start date as soon as you can.

You generally cannot have negative but accurate information removed from your credit report. You can, however, dispute accurate information if it appears multiple times. Most negative information will remain in your report for seven years. Some types of information remain longer.

most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.

Yes. You can “opt-out” of having your information released by the credit bureaus. You can “opt-out” by phone or complete the process online.

​​Accurate positive information can remain on your credit report forever but commonly is removed after seven years. Accurate negative information can remain on your credit report for only seven years, with a couple of exceptions. A bankruptcy can remain on your credit report for 10 years.